In This Economy, Why Invest in Social Media? - Jory Des Jardins - MediaBizBlogger

Originally published AOctober 20 2008During the Dot Com Bust many new media and tech professionals in San Francisco had lost their jobs including me and were left to fend for ourselves trapped in expensive mortgages or luxury apartment rentals To the naked eye it looked like I still had a job but I had to make a number of major adjustments including ending my quarterly shoe shopping stemming a daily Starbucks habit and ending my trips to the local organic grocer It was then that I decided to start shopping at Safeway and learned that there were plenty of quality products there for which I paid a fraction of what I normally paid Though I could hardly pay rent I ate wellWe develop affinities with brands that help us through hard times Even Starbucks is getting that now with discounts offered to its most loyal customers during the current economic crisis For this reason and others I urge brands to consider or continue engaging with customers through social mediablogs and social networksespecially nowWhen asked at Gartner SymposiumITxpo 2008 whether brands should bother engaging with customers through largely unproven digital methods such as social media during the downturn analyst Adam Sarner replied quotThis is going to be a lifelinequotIt would seem that social media publishers don39t have to worry we39re getting the media dollars Epsilon39s latest survey indicates that BlueChip company CMOs are shifting dollars from traditional media print TV to digital interactive formats And Jack Myers predicts that even within digital the more quottraditionalquot forms banner ads will slump compared to online video widgets and social networks on which spending next year will increase by 70 percent The more accountable the media and the more targeted the better While there has yet to be found a magic formula for measuring the effectiveness of blogs and social networks beyond the clickthrough there are metrics such as comment volume and inbound links that speak to the relevance of any publisher who may tout your brandIn the immediate term ads and online sponsorship validate bloggers39 online addiction and defray our expenses But it also invokes a halo effect around your brand in the Blogosphere Bloggers in our network have thanked even blogged about our advertisers for helping them cover groceries or even just their monthly hosting fees This recognition is the stuff that sparks relationships for lifeI just returned from a series of local conferences that my company held for women bloggers and had conversations with our sponsors about the downturn notably General Motors As have all the automakers GM has been hit hardwe would have understood if they had reduced the number of cars they39d brought to our events to test drive or weren39t open to more conversations about additional ways to engage bloggers But to our delight that wasn39t the caseGM was one of the first companies to engage the Blogosphere wholeheartedly even developing an outreach department and protocol for working with bloggers and social media users Back in 2006 when we first began working with GM their marketing team never insisted on such things as a guaranteed number of resulting posts or car sales to justify their presence This was a relief because we would never have been able to keep promises of securing endorsements from bloggers or tracking their future purchasing activityStill the response in the Blogosphere to GM39s first sponsorship was exceedingly positive Women wrote of their experiences driving the cars they brought to the conference Some hadn39t realized how quotcoolquot GM cars had become some thought GM was smart to engage and many wrote their opinions on their blogs or agreed to videotaped testimonials on YouTube GM became our first undisputed sponsor successThen GM took it a step further As the economy worsened GM continued to support independent blogger functions and offer up their cars for test drives or even temporary transportation This summer GM provided hybrid cars to women who wanted to attend the BlogHer conference but who were faced with outrageous airline feesThey began to monitor opinions of women who drove their cars at various events and achieved some eyepopping results In one survey conducted earlier this year with women bloggers 654 of those surveyed said they would not have considered purchasing a GM car prior to engaging with GM Postengagement 731 said that their perception of GM had changed A staggering 923 said that they now would consider purchasing a GM vehicleI believe that this dramatic shift in loyalty occurred not only because GM engaged in social media but because they hit upon some real concerns of their female customer base and stuck it out beyond that initial connection While usergenerated writing or videoblogging contests are fun and make for immediate spikes in user engagement and recognition in a downturn these activities become frivolousIn the coming months I predict the following tactics coupled with prolonged outreach will be most effective1 Couponing Providing ways to access discounts via the Web will equate to quick engagement that will last long after hard times2 Cost covering GM did this by providing carpooling bloggers with hybrid vehicles to get to our conference imagine other ways you can help influentials online especially during the holidays gift cards cash cards gas cards travel vouchers hosting fees you get the gist And by supporting the costs of bloggers which for women may include childcare you are saying to these folks what you do matters3 Validating Give customers a place to talk about what matters to them their concerns fears and desire to connect with others who can relate Sponsor online conversations and events spur some that are not about your product read what others are dealing with and let them know you hear them Incent them to provide useful information for the community4 Inspiring Refrain from doom and gloom This is a grand time to provide inspiration and be remembered for itBy keeping a toe in social media your brand can stay relevant and weather the storm however long it will be

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In This Economy, Why Invest in Social Media? - Jory Des Jardins - MediaBizBlogger

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